What penalty can be imposed on One Person Company or Officer of such company who contravenes the provisions with respect to conversion of Private Company into One Person Company?

According to Section 18 read with Rule 7A of the Companies (Incorporation) Rules, 2014, if a One Person Company (OPC) or any officer of such company contravenes any of the provisions of the Companies (Incorporation) Rules, 2014, the OPC or any other officer of such company shall be punishable with fine which may extend to ₹5,000/- and with a further fine which may extend to ₹500/- for every day after the first offence, during which such contravention continues. As Section 18 of the Companies Act, 2013 does not prescribe any penal provision for contravention of this section. Hence, the provisions of Section 450 of the Companies Act, 2013 related to punishment where no specific penalty or punishment is provided may be applicable in case of conversion of Private Company into One Person Company.